Trump spent $66m of his own cash on cam­paign

En­tire stock port­fo­lio worth $40m sold for elec­tion­eer­ing

Kuwait Times - - INTERNATIONAL -

WASH­ING­TON/NEW YORK:

US Pres­i­dent-elect Don­ald Trump pumped a to­tal of $66 mil­lion of his own money into his cam­paign - far from the $100 mil­lion he fre­quently boasted he was go­ing to spend, ac­cord­ing to cam­paign fi­nance dis­clo­sures filed on Thurs­day night. Trump-re­lated business in­dus­tries - those bear­ing his own name, in­clud­ing his pri­vate jet and the Manhattan build­ing that served as his cam­paign head­quar­ters - re­ceived $11 mil­lion in pay­ments from his cam­paign.

Trump shocked the po­lit­i­cal world when he de­feated Demo­cratic ri­val Hil­lary Clin­ton in the Nov 8 elec­tion for the White House, over­com­ing a spend­ing deficit and out­per­form­ing polls in sev­eral swing states to pro­pel him to vic­tory. Ear­lier this week, Trump’s cam­paign re­vealed that he sold his en­tire stock port­fo­lio in June, a hold­ing that was es­ti­mated at about $40 mil­lion.

Opt­ing to liq­ui­date his as­sets could have been a move to pump cash into his cam­paign, which at the time was strug­gling to raise funds from pri­vate donors. The move to sell his stocks came weeks af­ter he for­gave about $47 mil­lion in loans he had al­ready given his cam­paign.

In to­tal, Trump raised $339 mil­lion and spent $322 mil­lion - a far cry from the $565 mil­lion spent by Clin­ton, ac­cord­ing to the lat­est Fed­eral Elec­tion Com­mis­sion dis­clo­sure re­ports. Trump spent $94 mil­lion in the fi­nal days of the cam­paign, com­pared with the $132 mil­lion spent by Clin­ton.

Trump fre­quently promised to run a shoe-string cam­paign and ar­gued his self-fund­ing model meant he wasn’t ob­li­gated to any spe­cial in­ter­ests. He blasted polling as a use­less art and poll­sters as a waste of money as he over­came 16 Repub­li­can foes dur­ing the pri­mary elec­tion sea­son in early 2016. Trump rode to vic­tory on more than $5 bil­lion in “free” tele­vi­sion on news programs that pro­vided wall-to-wall cov­er­age of his ev­ery word, ac­cord­ing to data an­a­lyt­ics firm me­di­aQuant.

But when the re­al­i­ties of the gen­eral elec­tion be­gan to sink in - and Trump’s poll num­bers sank - he shifted and be­gan spend­ing money on polling and tele­vi­sion ads.

In to­tal, Trump spent $107 mil­lion on ad­ver­tis­ing, in­clud­ing tele­vi­sion ads, and an­other $85 mil­lion in dig­i­tal and on­line ad­ver­tis­ing. His sec­ond largest ex­pense was air travel, to­tal­ing $26 mil­lion and ac­count­ing for more cam­paign spend­ing than his pay­roll. —Reuters

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